Majesco (New York), a global core systems and services vendor, has signed a definitive agreement to acquire the business of Agile Technologies (Columbus, Ohio), an insurance IT consulting firm with revenues over $9 million. A Majesco statement says the acquisition, aimed at accelerating global customer support and growth plans, is expected to close in Jan. 2015.
The acquisition complements Majesco’s offerings with Agile’s established consulting practice, business process optimization capabilities and additional technology services, including data architecture strategy & services.
“Majesco has been on an aggressive growth path adding new capabilities, growing our customer base and expanding into new geographies while keeping a laser sharp focus on meeting the technology needs of just one industry – insurance,” comments Ketan Mehta, CEO, Majesco.
Majesco characterizes the acquisition as a significant step in the execution of an aggressive growth strategy. The reports that it will continue to make significant investments in expanding its global business while building its portfolio of products and services through R&D, talent development and further acquisitions.
“Agile’s business is a natural synergistic fit for Majesco and this acquisition is an ideal way to strengthen our capabilities,” Mehta adds. “Agile has an excellent reputation in the industry with a high quality talent pool of over 50 insurance technology professionals, domain depth and a satisfied customer base. Our customers and the insurance industry at large will benefit from our combined strength in creating and executing carriers’ data strategy, business process optimization and business intelligence projects. We look forward to being a partner of choice to over 20 of Agile’s customers who join our growing customer base.”
A Marriage of Software, Consulting and Services
“We are excited to bring our experience and expertise to Majesco, a company that shares our commitment and believes in applying a partnership-based approach to every client engagement,” comments Bill Freitag, CEO, Agile. “We have had a long-term relationship with Majesco partnering with them on many of our customer engagements. We see this development as a natural extension of our relationship – a great marriage of software, consulting and services, and a shared vision of the value well-implemented technology solutions can deliver to customers.”